ramblings
OK OK I know its been awhile…..In between the new Pawn Shop I have also been living my life. For those of you who know me I have and drive a lot of classic cars and my baby 69 Dodge is just about done. I spent the last 4 years making my ultimate daily driver and now the last of the mods are almost done.
That is 512 cubic inches of Chrysler motivation. I owe great thanks to the Shaun over at Street Productions in Largo he truly is a master craftsman. We had it on a dyno and unfortunately the dyno only went to 700ft lbs of torque because this motor has more than that. Should be installed and running by tomorrow. Look out St Pete here comes the hammer….
Plus we are going to have our first buys come out of holding tomorrow and have pawn shop material for sale!!!! We have enough to fill 4 cases and two of the big gondola shelves as you walk in the store. We also have an ad starting tomorrow in the Pinellas Park newspaper. The ad is one of those kind that are like Post-It notes on the front page. Going out to 20,000 papers it’s an ad for gold at 28/gram or 5% loan. We shall see how it works on Saturday.
We have had great traffic for start up and some interesting items check it out….
Well today I got the point of sale system installed. It’s called Pawnmaster and it basically does all the hard work for you. Keeps you legal, reports, gun log etc. I have scheduled 8 hours of training lined up for tomorrow. Pawn university in a day…….wow.
Got the jewelry testing and display equipment today and finally got the AC working. Now I basically have a 5000 sq. ft. store with almost zero mechanidise and 1 employee who has never been in a pawn shop (brother in-law) until recently.
I am a retail genius.
We did have a couple of real characters walk in off the street today and look at the guitars. I didn’t have a way to sell them anything yet so I didn’t push, it was encouraging though. We are going to use the internet and telemarketing to get foot traffic going. Between the website www.bigtimspawn.com and calling craigslist.com and calling ads from the local fish wrapper we hope to get 30 pairs of feet over the threshold everyday, that is the goal.
I am seeing light at the end of the tunnel, although this has taken much longer than we hoped I hope to report my first sale and pawn by the end of this week!
As a closing note, regardless of how much money and experience and business acumen you have I don’t think this would have been possible without the support of my wife. It’s always been MY dream to be a pawnbroker not hers, I love her more than ever for helping me make it attainable.
OK now I’m real trouble, I have an FFL and I can can mess you up! What that means is a I can buy and sell most handguns and long guns. Paperwork is crazy but it is worth it. One of the advantages is that you get the best pricing on guns but if you mess up the paperwork, it’s your ass.
The guys over at the ATF where you get the license are the best. Yah it is a body cavity search but if you are serious about guns you get the license.
Well we got our first merchandise to sell/give away at the shop today. I got 200 knives form the site liquidation.com and they are very cool. We will have a big sign on the building that offers a free gift for first time visitors. I think that will go over well, we’ll see.
Tomorrow the display cases and shelving comes and we are on track to have the software installed this week. Forms were ordered from Burrell, jewelry is on the way and guitars are coming, I can feel it now.
Well, for an update we have electricians and all sorts of cool stuff happening. The software is coming next week, the sign is on its way. Cabinets are coming and so are the shelfs and gondola. Look out Pinellas Park.
I hope you’re not trying this but I am and it’s frustrating. You need these (not in this order)
- a wife that completely believes in you….really
- money, cash not credit, and lots of it
- a building, here is mine Big Tim’s Pawn
- licenses…..Pawnbrokers license, occupational and if you want to deal in firearms a federal firearms license
- pawnbrokers insurance
- safes
- security system
- displays and shelves
- software
- employees
- did I mention cash?
- membership to the state and national associations
- be completely insane….check
